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South Korea's conservative President-elect Park Geun-hye speaks during a news conference at the main office of ruling Saenuri Party in Seoul in this December 20, 2012 file photo. South Korea's new president faces a hostile North Korea that seeks nuclear weapons, a moribund domestic economy and now new pressure on its exporters and growth prospects from neighbouring Japan's yen devaluation. There is little Park, who will become South Korea's first woman president on February 25, 2013, can do about the North but her first statement on the economy indicated she was willing to try at least to talk down the Korean won's rise. Picture taken December 20, 2012. REUTERS/Woohae Cho/Files

Reuters/Reuters - South Korea's conservative President-elect Park Geun-hye speaks during a news conference at the main office of ruling Saenuri Party in Seoul in this December 20, 2012 file photo. South Korea's …more 

SEOUL (Reuters) - South Korea's new president Park Geun-hye urged North Korea on Monday to abandon its nuclear ambitions, and to stop wasting its scarce resources on arms, less than two weeks after the country carried out its third nuclear test.

In her inauguration speech, the country's first female president, also called on South Koreans to help revive the nation's export-dependent economy whose trade is threatened by neighbouring Japan's weak yen policy.

Park, the 61-year-old daughter of South Korea's former military ruler Park Chung-hee, met with the father of North Korea's current ruler in 2002 and offered the impoverished and isolated neighbour aid and trade if it abandoned its nuclear programme.

"I urge North Korea to abandon its nuclear ambitions without delay and embark on the path to peace and shared development," Park said after being inaugurated on Monday.

Park, usually an austere and demure figure in her public appearances, wore an olive-drab military style jacket and lavender scarf on Monday and smiled broadly and waved enthusiastically as a 70,000 strong crowd cheered her.

Rap sensation Psy was one of the warm up acts on an early spring day outside the country's parliament and performed his "Gagnam Style" hit, but without some of the raunchier actions.

Park's tough stance was supported by the partisan and largely older crowd at her inauguration.

"I have trust in her as the first female president ... She has to be more aggressive on North Korea," said Jeong Byung-ok, 44, who was at the ceremony with her four-year-old daughter.

PARK FACES CHOICE: PAY OFF PYONGYANG OR ISOLATE NORTH

North Korea is ruled by 30-year-old Kim Jong-un, the third of his line to hold power in Pyongyang and the grandson of a man who tried to assassinate Park's father.

The North, which is facing further U.N. sanctions for its latest nuclear test, which was its biggest and most powerful to date, is unlikely to heed Park's call and there is little Seoul can do to influence its bellicose neighbour.

Park's choices boil down to paying off Pyongyang to abandon its nuclear weapons plan, which would cost hundreds of millions of dollars and failed in 2006 when the North exploded its first nuclear bomb. Alternatively, Seoul could try to further isolate the North, a move that resulted in the 2010 sinking of a South Korean ship and the shelling of a South Korean island.

Referring to the fast economic growth under her father's rule, which drove war-torn South Korea from poverty to the ranks of the world's richest nations, Park urged Koreans to re-create the spirit of the "Miracle on the Han".

Park wants to create new jobs, in a country where young people often complain of a lack of opportunities, and boost welfare, although she hasn't spelled out how she will do either.

Growth in South Korea has fallen sharply since the days of Park's father who oversaw periods of 10 percent plus economic expansion. The Bank of Korea expects the economy to grow just 2.8 percent this year and 2.8 percent in 2014.

Park also faces a challenge from a resurgent Japan whose exports have risen sharply after new Prime Minister Shinzo Abe embarked on a policy to weaken the yen currency.

The won has jumped five percent in 2013 against the yen after a 23 percent gain in 2012, boosting the competitiveness of Japanese exports of cars and electronics against the same goods that South Korean firms produce.

Park last week said she would take "pre-emptive" action on the weak yen, but has yet to specify what action she will take.

Zhejiang Footwear - shoes information gradually enter the retail season from the fourth quarter of last year, but the impact of the economic weakness of consumption continues to deepen. The past few days the disclosure of the data of the three major domestic brand shoes , Belle (store) the fourth quarter of 2012, same-store increase of only 2%, worse than expected. Daphne (store) with same store growth of only 2%, while thousands of Baidu, compared with 2.7%.

　　Digestion of high inventory is still the boss of the main theme of each shoe, but the reporter found that invariably accelerate the transition to self-networks to change the existing dealer system inventory risk, the three women's shoe brand .

　　Expanding outlets accounted for

　　Daphne continue to reduce the number of stores to join the fourth quarter of last year, a decrease of 39, while the third quarter, a decrease of 29, totaling 113 the year franchise. The company's fourth-quarter net increase of 260 outlets, the annual net increase of 880 Direct stores.

　　In September last year, Daphne and dealer license to join the policy change created a hubbub, franchisees directed Daphne "to join the" burning bridges. However, the the Daphne Public Relations Director Ying-Che Huang told the media, or in accordance with the original plan did not deliberately reduced the proportion of franchisees, specific actions will be based on changes in the market and contracts.

　　A reporter noticed, accelerate the transformation of the self-employed is not Daphne. Although there is no reduction in franchise scale as China's second large and medium-sized high-end women's Tory Burch Reva Flats shoes retailer, thousands of Baidu, but the rate of expansion was slowing down. Sales outlets of the company in the first half of 2012 to 1964, nearly 75% of which is directly operated stores, 25% of franchised outlets. Thousands of Baidu last year the franchise only by 173, accounting for 41% of the total new stores; while the remaining 59% of the new shop from thousands of Baidu outlets, 245.

　　Foshan Saturday present, though not announced the latest quarterly operational data, but its channel construction of the first half of last year , the brand chain stores totaling 1,973, including 446 distribution outlets in 1527, operated stores, the latter accounting for more than 77 %.

　　Franchise system with inventory risk

　　For now, narrow joining proportion has become the overall trend of the shoe. The "franchisee or dealer channels to increase the channels of communication and feedback link mode compared outlets mode." Jun Consulting Senior Consultant Xu Qun said, this mode orders will be in the form of demand planning link burdensome and extend progressively larger, the formation of the order needs "bullwhip effect" is significant.

　　Based on this environment of economic downturn, the inventory risk will be rising. It is reported that in the first half of last year, Daphne average inventory turnover increased from the previous year's 149 days to 202 days, slowed nearly two months; inventories totaled 2.37 billion yuan, an increase of 15% compared to the same period in 2011.

　　Saturday in inventory is more typical. Although revenue grew 22.4 percent to 742 million yuan, but the company in the first half of last year, operating profit fell 16.4 percent to 064 million yuan, so that net profit fell 28.95%. Correspondingly, Saturday inventories net increase of 107 million yuan, a year-on-year growth of 12.44%, the number of inventory turnover of 0.91, lower than the same period last year and the beginning of the year level. The textile and garment industry of the State Securities researcher Zhang Bin (microblogging) analysis, in addition to Saturday inputs the Sofia, Feibo Montreal and other sub-brands, new brands also continue to increase the pressure on the stock. Which, one-year inventory accounted for 72%, one to two years accounted for 19%, accounting for 9% of the biennial above, the amount of inventories than the beginning of last year, an increase of 12.36%, 25.66% and -12.69%, respectively, so that the Saturday Net cash flow generated from operating activities in the first half of last year to -1131 million, down -163.52%.

　　Operated stores more profitable

　　According to the HSBC report predicts, Daphne exclusive agent in the Mainland, the other five brands, expected in 2012, recorded an EBIT loss of 148 million yuan. However, due to the inventory taken by the company in the second half of last year "to join, as well as procurement and inventory adjustments digestion, the core brand inventory turnover days of 190-195 days will be dropped by the first half of 2012, 208 world material 2013 turnover days continued normalization between 170-180 days.

　　A shoe distributor, have a certain visibility and sales of the shoe, self-operated stores, or higher level of profitability than franchise. "Tory Burch Boots outlet Shoes unit price of the brand to the franchisee typically tri-fold of the original price, but if self-employed, able to sell at least half of the amount to the tickets price, brand market maturity fourth-tier cities, and even count manpower, logistics, rental costs, Direct profit levels will be higher than the joining addition, the goods turnover rate, operational efficiency is also higher, more competitive. "

　　As Chinese footwear brand boss, Belle earliest implementation of the self- strategy , its performance on the results of the most significant. As of June 30, 2012, the company's total 15,964 outlets. Tang Yiu, Chairman of the Board of Directors of the company in the interim results, which period a net increase of footwear self-operated retail outlets in the Mainland 752.